The NFL made headlines recently by naming its first- ever general manager of sports betting. This is a significant move for the largest mainstream sports company in the United States, and an indication of where society and business are headed.
Sports betting has a market size of $76.75 billion today, and it’s growing at a 10.2% rate. Sports betting apps are accessible and easy to use, and many states are allowing their residents to take part.
For marketing, this opens a clear lane that advertisers can take advantage of. Marketing on betting apps could be a great avenue for your company to explore – or is it? Keep reading to find out if this is a good decision for your business.
Should You Advertise in a Sports Betting Apps?
Since sports betting is on the rise, expect marketing in sports betting apps to remain a marketing trend that will continue. App marketing is effective because people use their smartphones for hours at a time, several times throughout the day and week. You’ll garner several impressions, and can target your ads to people already looking for what you offer. Maybe you want to reach people within a specific geographic footprint. Or what about targeting based on contextual data? This type of app helps you reach a specific demographic that may have been hard to identify before.
These reasons make marketing in a betting app worth your dollars and consideration. The key is understanding who you are trying to reach and clearly identifying if they are active within these types of applications. Research is critical to a wise investment.
What Are the Pros and Cons?
There are pros and cons to any marketing avenue that you explore. The biggest risk that you take with sports betting is tapping into a potentially vulnerable audience. When marketing a betting program specifically, there are legal regulations in place, such as highlighting a way to receive support for a gambling addiction. But for non-gambling-related advertising within these platforms, the requirements are minimal.
Return on investment (ROI) can be quite strong when you advertise on betting apps, due to the sheer number of people who take part. Betting is being openly pushed and encouraged among major sports leagues today, and it’s losing its stigma and becoming increasingly legitimized. Therefore, the people you may have previously targeted with broadcast TV assets during major games can potentially be reached via a much more targeted and cost-efficient channel like in-app advertising.
If your industry is adjacent to sports gambling, the new business and profit potential are monumental.
Betting on Your Advertising Power
Betting is here to stay, thanks to this burgeoning industry. Targeting this universe of prospective customers is absolutely worth your time if you’re willing to do the research to identify how best to speak with this captive audience.